Why can't I lease a bolt in Georgia for under $550 a month?

[swanlee]

The Bolt I'm trying to lease is not a $40K + car, it is around 37-38K LT with a 7500 federal tax break . The lease I'm paying on should be based on around $30K.

I SHOULD be doing a 3yr lease of the Bolt based on an effective MSRP of around 30K after the $7500 tax credit and after maybe a 2K down payment. That is how my Leaf lease worked but I did not even have to put any money down for that.

If Chevy is doing funny stuff with the $7500 tax credit and not applying it to the MSRP then again shame on them for finding another way to screw me.

And besides all this it still does not change the fact people in other states are leasing this car for as low as $250 a month. Is GM stupid? We all have internet and can see the real cost of what other people are paying. WHY am I going to pay $300 more a month when someone can get this same car for $250 a month?

What myself and anyone else in this state see's is Me = $550 a month, Some guy in CA, NY, Mass = $250 a month for the same exact car. That is a huge perception problem and even if $550 was within my budget I wouldn't do it knowing others are paying $250 a month. I can't single handedly change my state regulations regardless of how I vote. GM needs to figure out a way around this if they actually want this car to be in people's home nation wide.

http://www.mychevybolt.com/forum/viewtopic.php?t=6845

We can split hairs on the reasons but GM has a real issue on their hands people like me are getting pissed that for "reasons" outside of our own control we are paying double for leasing this car, the exact same car.

Bottom line I'm being forced to pay nearly double a month for leasing this car compared to other locations that actually have a much higher cost of living then where I am. That is BS.

 

[swanlee]

$550 a month X 36 = 19,800 + 7500 fed tax + 2000 down = 29,300

Why am I going to pay in $30K on a $40K car just to give it back to GM after 3 years? If GM is pocketing the fed tax and not putting it towards the MSRP then that's another shady tactic they are pulling, Nissan did not do that when I leased the Leaf they applied the $7500 directly to the MSRP and my lease was based off of MSRP - $7500 fed tax .

The Bolt is going to be worth much more than $10K in 3 years.

If leases worked like this no one would lease any cars and dealers would have a ton more cars sitting on their lots doing nothing.

Without seeing the actual numbers on your lease quote (this is the third request), there is no way to tell what they are quoting.
In your calculations, you show that GM Financial gets to keep the 7% GA tax. Nope.
We have no way of knowing if they added in things like an extended warranty, scotchguard for the seats, prepaid service for 5 years, undercoating, VIN etching, etc.

Did you get an actual quote? It would have the following info:
MSRP
Agreed upon Price
CCR
Residual Value
Money Factor (some dealers will pad this significantly)
Aquisition Fee
Doc Fees
Titling and license fees
Miles/yr


I completely agree that your numbers don't add up and we are trying to help figure out why. Your claims to be knowledgeable about leasing are becoming harder to believe.

But is still does not change the fact that a $40K car (purchased at MSRP) will NOT have $300/mo lease payment. That requires the dealer and/or manufacturer to do something to lower the depreciation on the car, even on luxury brands that have a high RV.

I don't have a written formal quote cause both times I went to a physcial location to break down the numbers the finance officers of both Dealers quoted me between $550 and $580. At that point after further badgering about the price they would not relent.

The first dealership I went in cold and was shocked at the price and left. The second time the dealer ship said $320 and 2K down over the phone and once I got to the location somehow everything changed to $550 a month even after 2K down.

I walked out of both places at that point since the numbers were not even close. Both times I spent nearly two hours at the dealer ships.

I then called 4 dealers in my location gave them the general gist of what I was wanting and they all said that the lease range would be the same around $550 a month.

If any dealer would have come close to $300-400 a month I would have gone to the next step in the process and gotten formal quotes broken down and itemized..

 

[EastWestBrothers]

I think your expectations need to be reset.

The Bolt only just went on sale in Georgia, meaning there is likely a bit of pent up demand. Dealers, who are independent retailers who franchise from GM, are free to sell the car at whatever price they think they can get for it. How the tax break is applied is also largely up to the dealer finance team and not GM because it comes in the form of incentives to the dealer that they can choose to keep or give away as much or as little of as they deem necessary to close a deal. It seems like you should be mad at your local dealers rather than throwing all the shade at the manufacturer.

In CA, where the real deals can be had now, part of why those deals exist is because there is a glut of inventory. When you look back at the start of sales before the inventory built up, people were getting some ridiculous price quotes then too.

So if you're in no rush, just wait a few months until the initial demand has subsided and there is more inventory on the ground. There may also be additional manufacturer incentives available by then. It doesn't matter the car, you'll get better prices if there is a lot more supply than demand.

 

[swanlee]

MY expectations are fine, I expect to pay inline with what other people are paying and have paid on a lease for this car. I don't expect to have to pay DOUBLE what other people are paying. Trust me I'm mad at my local dealers, mad at GM for not figuring out a way to launch this car nationwide with reasonable base pricing on leases and at my local politicians for screwing me on EV's. There is certainly enough blame on this stupidity to go around.

I've already extended the lease on my Leaf 12 + months waiting for the Bolt to be available in my area. It's getting a bit ridiculous how GM is handling the rollout of this car it's like a reverse of EV1 but equally as bad. It finally hit my state after being officially out a year and blammo guess what you gotta pay double!!!

Trust me if the new Leaf had 200 + mile range I'd not even consider the Bolt after all this crap. Nissan has been pretty good to me giving me free months on the Leaf when I extended it and during the lease process being straight forward actually applying the $7500 tax credit to the MSRP of the car and working with me but I was pretty disappointed in the specs on the 2018 leaf. Worst case though it will work for my needs even if not ideal at least Nissan has not jerked me around like GM has.

 

[EastWestBrothers]

I don't think you understand that each state is its own market with its own rules. Prices in CA, where the car has been on sale for 9 months, should not be used as the benchmark for your lease. Instead, look around at other states closer to you to see what other people are paying. It might require a bit of a trip, but I am willing to bet dealers near the border of Georgia, where people might be willing to drive to South Carolina or Florida to get better deals are going to be more willing to make a deal than a dealer that has a captive audience and competition only among other area dealers that are all not willing to lower their prices.

And if you still don't like the price, you can always get a different car.

If you do not want any other car but this one, then you have to pay to play. That is how a capitalist market works.

 

[EastWestBrothers]

Trust me if the new Leaf had 200 + mile range I'd not even consider the Bolt after all this crap. Nissan has been pretty good to me giving me free months on the Leaf when I extended it and during the lease process being straight forward actually applying the $7500 tax credit to the MSRP of the car and working with me but I was pretty disappointed in the specs on the 2018 leaf. Worst case though it will work for my needs even if not ideal at least Nissan has not jerked me around like GM has.

And the new Leaf does not have the range you're looking for so it's a moot point. And honestly, you can bet that prices will be high when the 2018 Leaf is released in January because there will be pre-orders to fill and early adopters willing to pay at or even slightly above MSRP to get those cars. If you're expecting to get a great deal on the new Leaf right from day 1, I suspect you will find yourself severely disappointed as well.

 

[swanlee]

I've already called around to dealers in other states no one will lease me this car out of state. I do not care if each state is it's own market, I see other people in this country paying $250 a month for the exact same car in states with MUCH higher cost of living than GA and some how I'm stuck paying $550? That is not happening.

GM can hide behind the concept that each dealer is independent but they have to see a wider problem with this car and regional collusion. They are not giving the dealers ANY incentives to get the price down to more reasonable levels and dealers are taking advantage of that and none of them are budging on price so it leaves people no choice.

Look we aren't talking about a $50-100 difference on lease pricing. I could see that might vary depending on state/region and newness of the car we are talking about DOUBLE THE PRICE OR MORE per month. That is utterly ridiculous.

While the new Leaf does not have the range I want, 150 mile range will be enough for the new daily commute and probably allow us to run AC/Heat at the same time. I'm really about to say F it with GM all together, great range or not the ENTIRE situation with this car is pissing me off enough to can the whole idea even if prices do come down later.

Local dealers aren't being honest with me using bait and switch to get me in the lobby and are price gauging to the extreme, GM is trying to lay blame on the dealers while not doing a damn thing to help anyone or give incentives to dealers. Inventory of cars are piling up in CA while the numbers here in Ga are sparse allowing further price gouging. Screw them all the way around

 

[michaellax]

Swanlee: I did not read through this entire thread, but I know your pain!

In September, 2013, I leased a 2013 Chevy Volt for 3 years and of course many discounts were included because the 2014's were rolling into the dealer's lot and they wanted to move the 2013s out! I really enjoyed my three years with that vehicle, but I learned that I wanted a true EV experience and in July, 2016, I put a deposit down on a Bolt EV at my local dealer. I wanted, in effect, to be the first one off the lot, and was willing to pay the price to enjoy the pure EV experience from Day One!

I look at prices today and of course kick myself for paying that premium, but I rationalize that I have enjoyed my Bolt EV for 12,700 miles since January 3rd!

Do the math: add the down payment to the monthly payments for the full term of the lease. Look at the total cost for your enjoyment of this vehicle; that is what I did.

In January, 2020, I will look at the Tesla Model 3 and whatever is the state of the art that is then available.

In the meantime, I will enjoy my Bolt EV as much as I can. Make your best deal, and I am sure you will too!

 

[swanlee]

Swanlee: I did not read through this entire thread, but I know your pain!

In September, 2013, I leased a 2013 Chevy Volt for 3 years and of course many discounts were included because the 2014's were rolling into the dealer's lot and they wanted to move the 2013s out! I really enjoyed my three years with that vehicle, but I learned that I wanted a true EV experience and in July, 2016, I put a deposit down on a Bolt EV at my local dealer. I wanted, in effect, to be the first one off the lot, and was willing to pay the price to enjoy the pure EV experience from Day One!

I look at prices today and of course kick myself for paying that premium, but I rationalize that I have enjoyed my Bolt EV for 12,700 miles since January 3rd!

Do the math: add the down payment to the monthly payments for the full term of the lease. Look at the total cost for your enjoyment of this vehicle; that is what I did.

In January, 2020, I will look at the Tesla Model 3 and whatever is the state of the art that is then available.

In the meantime, I will enjoy my Bolt EV as much as I can. Make your best deal, and I am sure you will too!

Thanks for the input but $550 a month I'm quoted now is simply not in my budget. I can't realistically make that work and am not going to try given how badly I've been treated by GM and the local dealers here.

I'll stick with my $280 a month payments on the Leaf hope the 2018 Leaf can be had for a reasonable monthly price when released.

 

[michaellax]

I'll stick with my $280 a month payments on the Leaf hope the 2018 Leaf can be had for a reasonable monthly price when released.

I guess this was covered earlier, but what to keep you from coming to California and leasing a Bolt EV here, driving home and reregister it there?

 

[EastWestBrothers]

Local dealers aren't being honest with me using bait and switch to get me in the lobby and are price gauging to the extreme, GM is trying to lay blame on the dealers while not doing a damn thing to help anyone or give incentives to dealers. Inventory of cars are piling up in CA while the numbers here in Ga are sparse allowing further price gouging. Screw them all the way around

There's your problem. I never set foot in a dealer until they give me a deal in writing. I also calculate out exactly how I want the deal to work and shop it to the dealers. The ones who commit earn my business. The ones who play games get their numbers blocked until I finish my deal.

Look, you can complain all you want, but GM is under no obligation to provide incentives on any vehicle. Incentives are intended to move vehicles that are not selling and a vehicle that is new to a market is not going to see much in the way of incentives, no matter how much you complain. If you cannot come to terms with that economic reality, then nothing anyone says is going to be able to help you.

If you don't like how GM is handling this roll out, then just move on and get a different product already. What's the point of getting aggravated over a car lease? Life's too short.

 

[swanlee]

I am moving on I'm done with this, I'm going to work out with Nissan on a 2018 leaf when my current Leaf lease is up in Feb of 2018.

 

[swanlee]

I'll stick with my $280 a month payments on the Leaf hope the 2018 Leaf can be had for a reasonable monthly price when released.

I guess this was covered earlier, but what to keep you from coming to California and leasing a Bolt EV here, driving home and reregister it there?

When I called out of state dealers they said leases require for them registration done in the state buying the car would be different, I do not have any residency outside of my current state. I'd have to somehow establish temporary residency in another state to legally register the car in that state then get the car here and re register it. Way to much of a PITA and hassle

 

[IMAdolt]

I am moving on I'm done with this, I'm going to work out with Nissan on a 2018 leaf when my current Leaf lease is up in Feb of 2018.

Just don't be surprised when you try to get a 2018 leaf in February and can't find a 3 year lease for less than 450$ a month while by then 2017 bolts are going for the sub $300 a month you're looking for.

 

[swanlee]

I am moving on I'm done with this, I'm going to work out with Nissan on a 2018 leaf when my current Leaf lease is up in Feb of 2018.

Just don't be surprised when you try to get a 2018 leaf in February and can't find a 3 year lease for less than 450$ a month while by then 2017 bolts are going for the sub $300 a month you're looking for.

I doubt that since the Leaf price MSRP is going to be low 30's or high 20's and they will apply the 7500 Fed tax to the MSRP like they did before so I'll be leasing a car in the 22-25K range.

 

[DucRider]

I am moving on I'm done with this, I'm going to work out with Nissan on a 2018 leaf when my current Leaf lease is up in Feb of 2018.

Just don't be surprised when you try to get a 2018 leaf in February and can't find a 3 year lease for less than 450$ a month while by then 2017 bolts are going for the sub $300 a month you're looking for.

I doubt that since the Leaf price MSRP is going to be low 30's or high 20's and they will apply the 7500 Fed tax to the MSRP like they did before so I'll be leasing a car in the 22-25K range.

We'll see what Nissan does on their leases.
If they apply the full Tax Credit as a CCR and keep the high residuals, then the payment on a base S + charge package could be sub $200 if you pay the fees and taxes up front, or a little over $200 if you roll them in.

If, however, Nissan is tired of taking in the shorts on lease returns by having to put thousands on the table or sell at wholesale for a huge loss, they may put a more realistic RV on their leases. That could easily push those same payments into the $400+/mo range on that same base S with QC. (30% residual). I doubt very much if the real world price on a 3 year old 2018 LEAF will be much above what the current gen get. Bigger battery, but still no thermal management and a 200+ mile 60kWh model available. Until the leasing program is announced, we're all just guessing.

 

[swanlee]

Just don't be surprised when you try to get a 2018 leaf in February and can't find a 3 year lease for less than 450$ a month while by then 2017 bolts are going for the sub $300 a month you're looking for.

I doubt that since the Leaf price MSRP is going to be low 30's or high 20's and they will apply the 7500 Fed tax to the MSRP like they did before so I'll be leasing a car in the 22-25K range.

We'll see what Nissan does on their leases.
If they apply the full Tax Credit as a CCR and keep the high residuals, then the payment on a base S + charge package could be sub $200 if you pay the fees and taxes up front, or a little over $200 if you roll them in.

If, however, Nissan is tired of taking in the shorts on lease returns by having to put thousands on the table or sell at wholesale for a huge loss, they may put a more realistic RV on their leases. That could easily push those same payments into the $400+/mo range on that same base S with QC. (30% residual). I doubt very much if the real world price on a 3 year old 2018 LEAF will be much above what the current gen get. Bigger battery, but still no thermal management and a 200+ mile 60kWh model available. Until the leasing program is announced, we're all just guessing.

Well so far Nissan has been up front and not jerked me around, When the Lease on our leaf was up in Sept they said if we renewed for 6 months and waited for the 2018 leaf they would give us 3 months for free which we have already put into effect. Last fall we renewed the lease for 12 months after it was clear the Bolt was not hitting our state and they gave us 2 months free. The original lease was 2 years and we have had to extend it now a total of 18 extra months waiting for another option and Nissan has given us 5 free months total for waiting.

Also when we did the original lease on the Leaf the price they quoted us over the phone was exactly what we paid when we signed the deal. I have yet to have them screw me over. So at this point Nissan has been more than fair with me and all indications are pointing to be fair with the 2018 model. If not I'll be back to square one but GM has completely left a bad taste in my mouth with this experience.

We really like the bolt it is a great car with amazing range but I will go with a company that treats me better even if I have to sacrifice range.
Maybe I'll lease the 2018 leaf for a year then go for the higher range model in 2019.

All of this would be unnecessary if GM/Local dealers would work with me on a lease for the Bolt

 

[sgt1372]

I am moving on I'm done with this, I'm going to work out with Nissan on a 2018 leaf when my current Leaf lease is up in Feb of 2018.

That's fine if you don't need the additional range. Good luck!

 

[SparkE]

Well so far Nissan has been up front and not jerked me around, When the Lease on our leaf was up in Sept they said if we renewed for 6 months and waited for the 2018 leaf they would give us 3 months for free which we have already put into effect. Last fall we renewed the lease for 12 months after it was clear the Bolt was not hitting our state and they gave us 2 months free. The original lease was 2 years and we have had to extend it now a total of 18 extra months waiting for another option and Nissan has given us 5 free months total for waiting.

Also when we did the original lease on the Leaf the price they quoted us over the phone was exactly what we paid when we signed the deal. I have yet to have them screw me over. So at this point Nissan has been more than fair with me and all indications are pointing to be fair with the 2018 model. If not I'll be back to square one but GM has completely left a bad taste in my mouth with this experience.

We really like the bolt it is a great car with amazing range but I will go with a company that treats me better even if I have to sacrifice range.
Maybe I'll lease the 2018 leaf for a year then go for the higher range model in 2019.

All of this would be unnecessary if GM/Local dealers would work with me on a lease for the Bolt

Nissan announced plan to extend leases (and give free months to) current LEAF leaseholders - and they were up-front about it being to keep LEAF drivers "in the fold" until they could ship the LEAF2. It was brilliant marketing. For LEAF drivers who don't NEED 200 miles range (but only 150 or less) they've just cut off a large number of potential buyers/lessees of the Bolt. It was a fantastic strategy.

But, as already stated :
- You can't really compare CA and GA lease prices, due to difference in state tax paid. In CA it is on the LEASE PAYMENT amount. In GA, it is on the CAR VALUE amount. HUGE difference.
- Georgia JUST got Bolts. When Bolts *first* showed up in California, it was hard to get a discount or a deal. Wait a few months and try again. You can even use the "but the new LEAF is now (or will be soon) available! that's too much to pay!"
- compare lease prices when the LEAF2 is available.

 

[jhm614]

- You can't really compare CA and GA lease prices, due to difference in state tax paid. In CA it is on the LEASE PAYMENT amount. In GA, it is on the CAR VALUE amount. HUGE difference.
- Georgia JUST got Bolts. When Bolts *first* showed up in California, it was hard to get a discount or a deal. Wait a few months and try again. You can even use the "but the new LEAF is now (or will be soon) available! that's too much to pay!"
- compare lease prices when the LEAF2 is available.

Swanlee-

I feel your pain, brother. TX has tax laws for leased cars that are similar to GA's. That means the monthly taxes on a base LT Bolt in Texas is 70 bucks - ouch. Also, CARB states get a bigger factory discount from GM because if they don't sell those cars in CARB states, they have to buy the credit from someone who does.

Either way, SparkE has some good advice there. Give it a few months and then play the Bolt guys off against the Leaf guys. If you go the Leaf S route, you probably end up getting a better deal but Chevy will start negociating harder once Leaf 2.0 is on the market.

Good luck!